15 Guam Code Ann. § 2219
Terms Used In 15 Guam Code Ann. § 2219
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Decedent: A deceased person.
- Legatee: A beneficiary of a decedent
- Probate: Proving a will
- Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
(b) Pending the settlement of an estate, or at the time of settlement of an estate, on the petition of the personal representative or of any person interested in the estate, and upon good cause shown therefor, the Superior Court of Guam may order any money in the hands of the personal representative to be invested for the benefit of the estate in securities of the United States, or to be used for the purchase from an insurer admitted to do business in the Territory of Guam and for any legatee named in the decedent‘s will of an annuity expressly granted to such legatee by such will. The Clerk of the Superior Court of Guam shall set such petition for hearing, and notice thereof shall be given in the manner provided in Section 3401 of this Title.
COL372014
15 Guam Code Ann. ESTATES AND PROBATE
CH. 22 POWERS AND DUTIES OF EXECUTORS, ADMINISTRATORS WITH THE WILL ANNEXED AND ADMINISTRATORS
SOURCE: Subsection (a): California Probate Code, § 584.1. Subsection (b): California Probate Code, § 584 (as amended); Guam Law Revision Commission.